The PRC Futures and Derivatives Law (the "FDL") was adopted on 20 April 2022 and is scheduled to come into effect on 1 August 2022. This new law is another important milestone in the construction of the rule of law in China's capital market. As the "basic law" of China's futures and derivatives markets, it provides a legal basis for the high-quality development of the futures and derivatives markets, creates favorable conditions for the two-way opening up of the markets, and serves as a giant step for China toward becoming a clean close-out netting jurisdiction.
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